RBI POLICY IMPACT ON MARKET

RBI CUTS REPO RATE BY 75 BPS TO 4.4%

Today market opened higher with the Nifty opening above the psychologically important 9,000-mark. But the market is trading at day's low with Sensex up 1.73 % at 30465& the Nifty gained  2.5% at 885.RBI reduced repo rate by 75 basis points to 4.4% . Axis Bank and IndusInd Bank being the top gainers, jumping 9-11 % each. They were followed by IDFC First Bank, RBL Bank, YES Bank, Kotak Mahindra Bank and HDFC Bank.State Bank of India jumped 6 % followed by Union Bank of India, Indian Bank, Bank of India, Punjab National Bank and Canara Bank.Meanwhile, ONGC, HCL Tech, Bajaj Auto, Hero Moto & Bharti Airtel fell up to 3.35 %.